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UPDATE: M Partners Reiterates Buy Rating, Raises PT on InterDigital on Strong Q4'12 Earnings

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In a report published Wednesday, M Partners reiterated its Buy rating on InterDigital (NASDAQ: IDCC), and raised its price target from $51.00 to $53.00.

M Partners noted, “A conference call was held on Thursday February 21st, and the company filed its 10-K report yesterday. After record Q3'12 earnings, driven by the windfall from the sale of patents for approximately $375M, we anticipate a very weak earnings quarter for Q4'12. The company beat our expectation by recognizing past infringement revenue associated with a new licensee.”

InterDigital closed on Tuesday at $44.81.

Latest Ratings for IDCC

DateFirmActionFromTo
Feb 2016B. RileyInitiates Coverage onBuy
Jan 2016BarclaysMaintainsEqual-weight
Nov 2015BarclaysMaintainsEqual-weight

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Posted-In: M PartnersAnalyst Color Price Target Analyst Ratings

 

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